21st Century Fox and Walt Disney shareholders approved the sale of Fox’s entertainment assets Friday, moving one of the biggest media mergers in history nearer to completion.
The companies' investors gave their blessings to the $71.3 billion transaction in separate votes at the New York Hilton Midtown in Manhattan. When the deal was announced in December, Disney said it would take 12 to 18 months to close -- a timetable the company is sticking with. Upon completion, a new Fox will emerge focused on broadcast TV, sports and the Fox News Channel.
Disney Chief Executive Officer Robert Iger now must turn his attention to the deal's many loose ends -- to consummate the merger and prepare his company for life afterward.